Oct 27 Options Writing Trades Update

Tokyo's Nikkei 225 index, after trading higher in the morning, closed down 6.4 percent to 7,162.90. There is alot of panic selling & no one can predict the where the bottom is. Investors in Japan dumped exporters like Toyota Motor Corp. and Sony Corp. as the yen remained strong after hitting a 13-year high of 90.89 yen on Friday. The dollar stood at 92.70 yen, compared with 94.24 yen late Friday in New York. US futures are pointing to another steep negative opening on Monday....with is no respite in sight. Tuesday's U.S. Federal Reserve meeting was more cause for caution. The central bank is expected to lower interest rates by at least a half-point to 1 percent, though the rate reduction is already priced into the market and unlikely to calm nerves.